Queensland companies are clinging to life ahead of an avalanche of insolvencies expected to hit this month.

Since August 1 just 56 companies collapsed into administration or liquidation as the federal government’s special ‘safe harbour’ laws protect businesses.

New data from the Australian Securities and Investments Commission reveal the number of companies which entered insolvency in the June 2020 quarter was 48 per cent less compared to the September 2019 quarter and 301 per cent less than the March 2020 quarter.

The June quarter represented the second-lowest number of appointments in the past 20 years.

However, experts predict the number of insolvencies will skyrocket later this month when the government withdraws existing laws which allow businesses to trade while insolvent.

TOUGH TIMES

The owner of a collapsed labour hire company has warned that the Queensland construction sector faces tougher times ahead.

Queensland Scaffold Solutions Pty Ltd director Devon Davis last week put his company into liquidation owing an $80,000 tax bill.

He said a combination of a lack of work and tighter margins meant he had to call in SM Solvency Accountants to start the process to wrap up his construction site scaffolding labour hire firm which he started almost four years ago.

CORPORATION CONCERNS

An Aboriginal corporation established in 2012 to hold Native Title over 17,000km of land in southwest Queensland has collapsed into administration.

The Bigambul Native Title Association was put into the hands of administrator Thyge Trafford-Jones on August 20 owing an undisclosed amount.

The corporation holds thousands of kilometres of land between Dalby and St George, however its office is based at King Scrub in the Moreton Bay region.

Its directors were desperately working to ensure “the financial security and sustainability of BNTAC” last year according to its annual report.

The company’s executive director Justin Saunders did not respond to a request for comment.

HALF A CENTURY

Liquidators were appointed to a Brisbane-based construction company which boasted a half a century of experience in the sector.

QCON Solutions, which has its head office at Moorooka, was involved in residential work as well as the construction and maintenance of schools and commercial buildings.

BRI Ferrier partner Ian Currie was appointed liquidator of QCON, which was previously known as Australian Timber Homes, on Tuesday.

Companies in liquidation

Turbit B Pty Limited

ACN: 105 085 023

Turbit Nominees Pty Limited

ACN: 105 085 032

Benbullen Enterprises Pty Ltd

ACN: 058 913 509

Paradise Point Roofing Pty Ltd

ACN: 612 479 731

Beagle Boys Construction Pty Ltd

ACN: 612 560 791

Townsville Scrap Car Removals Pty Ltd

ACN: 633 223 337

Coffs City Moto Pty Ltd

ACN: 608 192 445

Nielsens Rd Holdings Pty Ltd

ACN: 600 951 826

Barrett Hasell Pty Ltd

ACN: 148 843 878

Boyer Breads Pty Ltd

ACN: 615 857 586

Williams Grazing Co Pty Ltd

ACN: 009 798 967

Williams Properties Pty Ltd

ACN: 009 798 976

Alma Holdings Pty Ltd

ACN: 009 798 958

Alma Nurseries Pty Ltd

ACN: 009 798 949

W Williams Pty Ltd

ACN: 009 798 985

Hacon Pty. Ltd

ACN: 010 189 876

2 Chemist Pty Ltd

ACN: 605 448 244

Oceanic Sun Collaborative Group Pty Ltd

ACN: 620 838 655

Q Facility Group Pty Ltd

ACN: 602 107 988

Q Hospitality Group Pty Ltd Trading As Brew & Scoop

ACN: 611 773 918

Hyland Real Estate Pty Ltd

ACN: 603 119 937

Studio 93 Pty Ltd Trading As Studio 93 Hair Salon

ACN: 618 420 983

Lyall Rigging Pty Ltd

ACN: 600 152 494

Brisbane Yakiniku Pty Ltd Trading As Formerly Trading As Koh-Ya Brisbane Yakiniku Japanese Restaurant, Jfx Japanese Food Express Nexus And Koh-Ya Brisbane

ACN: 096 412 798

Project Define Pty Ltd

ACN: 616 158 046

Gzhel Pty Ltd

ACN: 608 471 790

Stereotype (No. 242) Pty. Ltd

ACN: 010 166 346

Simos Floors Pty Ltd

ACN: 622 134 267

Australian Office Administration Pty Ltd

ACN: 633 335 056

Degani Drive Thru Rowville Pty Ltd

ACN: 622 025 521

Asia Pacific Joint Mining Pty Ltd

ACN: 156 619 484

Ptc Global Pty Ltd Formerly Trading As Colab Creative Group

ACN: 603 088 071

Cmp International Pty Ltd Formerly Trading As Cmp International

ACN: 156 436 761

3Sixzero Productions Pty Ltd

ACN: 152 510 113

Visual Integrity Pty Ltd

ACN: 156 047 282

Australia Lingfung Hotel Management Pty Ltd Formerly Traded As ‘Ramada Hope Harbour’ And ‘Ramada Hotel Hope Harbour Gold Coast’

ACN: 628 604 937

Vanilla Zulu Pty Ltd

ACN: 623 504 870

Matrix (Qld) Pty Ltd formerly Trading As MTX Tow Bars Qld

ACN: 617 219 904

Orange Call Centre Consultancy Pty Ltd Trading As “Advanced Customer Care”, “National Customer Solutions”, “Premium Advice Network” & “Premium Support Services”

ACN: 163 139 151

Hilltop JV Pty Ltd

ACN: 305 086 315

Sunbusters Solar Shade Pty Ltd

ACN: 131 272 725

Q-Scan Holdings Pty Ltd

ACN: 123 123 802

Penrose International Pty Ltd Trading As Dc Imports; Perth Quad Bikes

ACN: 138 421 691

Queensland Scaffold Solutions Pty Ltd

ACN: 621 001 634

Riafa Pty Ltd Fka ‘Enoten Pty Ltd’ Fka ‘Event Zero Pty Ltd’

ACN: 110 659 375

Ibrahim Pty Ltd Trading As Nandos Morayfield

ACN: 142 891 245

Kelam J. Pty Ltd

ACN: 155 602 565

Bekah Holdings Pty Ltd

ACN: 632 569 674

Ace Cuisine Pty Ltd Trading As Formerly Trading As Ace Thai,

ACN: 622 048 882

E.G Tech Pty Ltd

ACN: 139 189 978

Qcon Solutions Pty Ltd

ACN: 145 054 182

A.C.N. 632 109 874 Pty Limited Trading As Formerly Couran Cove Operations Pty Ltd

ACN: 632 109 874

Powell Sands Pty Ltd

ACN: 121 876 873

Companies in administration

Bigambul Limited

ACN: 149 577 686

VAH NEWCO NO. 2

ACN: 160 881 354

VB INVESTCO

ACN: 101 961 095

Originally published as Crest of a ‘tsunami’: 56 companies wiped out in a month